Why does Medicare have Parts A,B,D, and whatever?

[TFW46]

Originally Posted by Hannah5555

You are referring to Medigap plans not Medicare Advantage plans. Totally different. From CMS: "You can't use (and can't be sold) a Medigap policy while you're in a Medicare Advantage Plan." Just FYI.

In order to be eligible for an Advantage Plan, you have to enroll in Medicare Part B and continue to pay the $134 per month premium. That's IN ADDITION to whatever monthly premium your Advantage Plan charges. Some Advantage Plans pay a part of the Medicare B premium.

From the Medicare site:
How much do Medicare Advantage Plans cost?
In addition to your Part B premium, you usually pay one monthly premium for the
services included in a Medicare Advantage Plan. Each Medicare Advantage Plan has
different premiums and costs for services, so it’s important to compare plans in your
area and understand plan costs and benefits before you join.

https://www.medicare.gov/Pubs/pdf/11474.pdf

[reed303]

First, the premium for a Part C MA plan is in addition to the Original Medicare Part B $134 premium, not instead of. Some Part C MA plans are $0 premium, but are not available everywhere. My Part C premium of $120 is shown as $67 toward Part B medical coverage, and $53 toward Part D Rx coverage.
See https://www.medicare.gov/sign-up-cha...#collapse-3135 under Step 1 > Choose MA Plan > How much does it cost
"You usually pay a monthly premium for your MA Plan (in addition to your monthly Part B premium)"

Second, while you may have SEP of 8 months to enroll in Original Medicare Parts A & B, you may only have an SEP of 2 months to enroll in a Part C MA plan
See page 8 of https://www.medicare.gov/Pubs/pdf/11...e-Part-C-D.pdf under Leaving Employer
"You leave coverage from your employer or union > Your chance to join lasts for 2 full months after the month your coverage ends."

[Hannah5555]

Originally Posted by reed303

First, the premium for a Part C MA plan is in addition to the Original Medicare Part B $134 premium, not instead of. Some Part C MA plans are $0 premium, but are not available everywhere. My Part C premium of $120 is shown as $67 toward Part B medical coverage, and $53 toward Part D Rx coverage.
See https://www.medicare.gov/sign-up-cha...#collapse-3135 under Step 1 > Choose MA Plan > How much does it cost
"You usually pay a monthly premium for your MA Plan (in addition to your monthly Part B premium)"

Second, while you may have SEP of 8 months to enroll in Original Medicare Parts A & B, you may only have an SEP of 2 months to enroll in a Part C MA plan
See page 8 of https://www.medicare.gov/Pubs/pdf/11...e-Part-C-D.pdf under Leaving Employer
"You leave coverage from your employer or union > Your chance to join lasts for 2 full months after the month your coverage ends."

I'll enroll in Part B before the 8 months are up and hope I stay healthy. I can't really afford $134 to be deducted from my ss, so I'll just have to hope for the best.

[SCGamecock]

Originally Posted by Hannah5555

So I'm researching Medicare Advantage plans. My question is, why is the monthly premium for Medicare Original $134 (which is what I would pay based on my most recent income) but the Humana HMO is only $94 for Part B and a PPO plan offers $71 for Part B, $19 for the plan and $19 for Drug coverage which makes sense since it's a PPO but that's still less than the $134.

Technically, you are still paying the $134 Part B premium but the MA plan rebates a portion back to you. So, in the case of the HMO you pay $134 and get $40 back for a net Part B premium of $94 and a plan premium of $0. It's usually a marketing gimmick to gain market share. There are no guarantees the rebate will continue next year as it can be reduced or eliminated.

...some actually rebate part of the Part B premiums to customers.

Source: Medicare: The Hidden Risk of Medicare Advantage Plans | Money

Part B rebate: Some plans pay part of your monthly Part B premium.

Source: Medicare Guide 2018: Health plans with drug coverage | things-to-do | Tampa Bay Times

[Hannah5555]

Originally Posted by SCGamecock

Technically, you are still paying the $134 Part B premium but the MA plan rebates a portion back to you. So, in the case of the HMO you pay $134 and get $40 back for a net Part B premium of $94 and a plan premium of $0. It's usually a marketing gimmick to gain market share. There are no guarantees the rebate will continue next year as it can be reduced or eliminated.

Thanks. I will definitely check out the links you provided. The ultimate irony is the company I just retired from is a major health insurance company but I can't afford their medicare plans .